As an analyst with over two decades of experience in the financial industry, I have witnessed the evolution of various investment trends, from dot-com bubbles to the rise and fall of commodity prices. The latest CNBC CFO Council survey on Bitcoin has piqued my interest, not because of the 78% who view it as a highly speculative investment, but rather the 11% who still label it as a fraud.
Based on the latest CNBC CFO Council survey, approximately three-quarters of top financial executives (CFOs) still consider Bitcoin as an extremely risky investment.
Regrettably, it’s just a small fraction (7%) of CFOs who see Bitcoin as a means for storing value, which is not ideal news for its supporters.
Despite the fact that the cryptocurrency achieved impressive institutional acceptance milestones this year with the launch of exchange-traded funds (ETFs), 11% of the surveyed CFOs are still convinced that Bitcoin is a fraud. However, this is still significant progress compared to 2017. Back then, nearly a third of all CFOs viewed the largest cryptocurrency as a fraud, according to the same survey.
Moreover, it’s worth noting that as many as 96% of Chief Financial Officers now hold some perception of Bitcoin, underscoring just how widespread and accepted the digital currency has become in today’s financial landscape.
Nevertheless, it’s worth noting that corporate adoption of Bitcoin is still in its initial stages, as only a small number of traditional businesses have direct involvement with the pioneering cryptocurrency.
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2024-12-19 21:50